In a report released yesterday, Andy Meng from Morgan Stanley maintained a Buy rating on Xiaomi (XIACF – Research Report), with a price target of HK$62.00. The company’s shares closed yesterday at $7.70.

Meng covers the Technology sector, focusing on stocks such as Sunny Optical Technology (Group) Co, Xiaomi, and Yangtze Optical Fibre and Cable Joint Stock Co. According to TipRanks, Meng has an average return of 64.0% and a 61.54% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xiaomi with a $8.78 average price target, which is a 14.03% upside from current levels. In a report released yesterday, Macquarie also maintained a Buy rating on the stock with a HK$69.32 price target.

The company has a one-year high of $9.00 and a one-year low of $1.80. Currently, Xiaomi has an average volume of 130.4K.